The upside potential for the oil is limited and the increasing divergence between US and Canadian economy creates a bullish bias for the pair.
The BoC might be a bit hawkish on Wednesday, after to positive economic reports which can drag the pair down to 1.28-1.29 which gives us the opportunity to go long.
The risk for this trade is a positive Canadian CPI on Friday which can take the pair lower.
The BoC might be a bit hawkish on Wednesday, after to positive economic reports which can drag the pair down to 1.28-1.29 which gives us the opportunity to go long.
The risk for this trade is a positive Canadian CPI on Friday which can take the pair lower.
Kommentera:
the convergence between the weekly trendline and the 62%Fib retracement looks like a good place for a bounce.